lekha1506
Long

Elliott Wave analysis for 11-05-2018

NSE:NIFTY   Nifty 50 Index
Everything is explained in the chart
If we take the starting point of wave 5.1 from 10396, then the condition for wave 5.3 extension is also met.
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lekha1506 vivek369
@vivek369, I have marked 10509.7 as start of wave 5.1
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This looks like an ending diagonal pattern. But here wave 3 is extended more than 161.8 % which is not the case in ending diagonal.
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lekha1506 vivek369
@vivek369, Thanks. I too had noted that, but I couldn't find another wave pattern. So far it seems ending diagonal, let's see how it goes
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